by Archana Subramaniam by CNB
Roanoke Times Copyright (c) 1995, Landmark Communications, Inc. DATE: WEDNESDAY, January 22, 1992 TAG: 9201220369 SECTION: VIRGINIA PAGE: B-2 EDITION: METRO SOURCE: DATELINE: LYNCHBURG LENGTH: Short
BABCOCK & WILCOX TO TRIM STAFF BY 400
Babcock & Wilcox's Naval Nuclear Fuel Division will cut 400 of its 2,200 positions at its Mount Athos facility over the next 15 months, according to division officials who blamed the reduction on cuts in defense spending.The cuts will include about 250 hourly workers and 150 salaried employees. Some will be lost to attrition, the division said Tuesday.
The Naval Nuclear Fuel Division has about half the business it had in the mid-1980s during the height of the buildup to a 600-ship Navy, spokesman Ron Hite said.
The division did not release a timetable for the cuts. Most of the cuts will come in areas directly related to Navy contracts, Hite said.
At least 80 percent of the division's business is defense-related. The company became the only supplier of reactors to the Navy in 1990.
- Associated Press